Oman’s 2012 Average Daily Oil Output Up At 918,000 bpd

Oman’s oil production including condensates rose by four per cent in 2012 to an average of 918,000 barrels per day (bpd) thanks largely to gains from enhanced oil recovery projects, an oil and gas ministry official said on Sunday.

The increase was due to new discoveries in three different oil fields, Nasser Al Jashmi, the undersecretary of the ministry of oil and gas, said.

Average oil production in the small, non-OPEC producer was at 884,900 bpd in 2011.

Crude production of state-controlled Petroleum Development Oman (PDO) which accounts for more than 70 per cent of the Sultanate’s oil and gas output, averaged 566,305 bpd last year.

PDO plans to spend $11 billion between 2013 and 2022 on sixteen new upstream oil projects which will help boost the company’s production by one billion barrels in that period, managing director Raoul Restucci told a news conference.

PDO is 60 per cent owned by the Omani government, while Royal Dutch Shell holds 34 per cent. France’s Total and Portugal’s Partex hold small stakes.